Should I Sell A Written-Off Vehicle? Pros And Cons By Top Cash 4 Cars

Selling or even buying a write-off car is challenging and there are many advantages and disadvantages. In this article, we have outlined what is written off cars and if buying or selling them is legal in QLD.

To check if the vehicle is written off you can use the personal properties securities register PPSR site.

A written-off vehicle is an insurance term describing a car that’s considered a total loss. But the definition is not always black and white since there’s a gradient. For instance, insurers will assess the damage and decide whether it is “repairable” or “statutory.” So, you must be wary about what you are getting into if you seriously consider buying an encumbered automobile.

Statutory vs. Repairable Write-Off Cars Queensland

Statutory write-off refers to an automobile that has sustained severe damage, particularly to the structure or engine, making it dangerous for someone to drive it on Australia’s roads. Granting that the best mechanic can technically repair it to the point of running again, the car won’t still muster approval from the authorised inspector.

 

As a result, the inspector will recommend that the statutory write-off vehicle be sent to the scrap yard to be cannibalised for scraps and parts.

 

In contrast, a repairable write-off means that the mechanic might still fix the vehicle to the point where the owner can safely drive it on the roads.

 

However, the repair cost far exceeds the current market value of the vehicle, making it illogical for the owner or insurer to send it to the garage for an overhaul. Also, even if the damage is minor, the insurance company can still declare it as a write-off due to depreciation.

 

Ultimately, the repairable write-off car must still undergo inspection to determine if it will not pose a risk to the driver or other motorists.

Is Buying a Write-Off Vehicle Worth It?

Of course, it’s useless to talk about buying a statutory write-off vehicle since you will never get inspection approval.

 

The short answer to the question is probably not.

 

But consider the following pros and cons of buying a write-off vehicle:

PROS:

 

• Write-off vehicles are usually sold at fire-sale prices
• In some instances, you can still cannibalise the parts and repurpose them

 

CONS:

 

• Even if it passes inspection, you can never be 100% certain of your safety behind the wheel
• It’s almost impossible to secure insurance for your write-off car
• Your registration will always have a mark that warns off potential buyers, so the resale value is almost zero
• You may spend more money on hidden repairs as a result of the initial damage

Write-Off Vehicle: Categories

A write-off has several categories that aid in deciding whether to buy a car.

 

• Category A: Under this classification, the vehicle is considered beyond salvageable. An example is if a fire gutted the automobile, causing the structure’s integrity to be suspect. The only thing the car is good for is to shred or scrap it.

 

• Category B: In this list, the vehicle can still be utilised for its spare parts. However, the car will never be allowed on the road again, which means it’s a statutory write-off.

 

• Category S: Technically, a capable mechanic can still repair the write-off car. However, insurers warn against doing so since the automobile has sustained enough damage to compromise its structural integrity.

 

• Category N: In this instance, the vehicle can return to the Australian roads without problems since the automobile has not sustained severe damage to its body and other vital components.

 

So, if you consider purchasing a write-off vehicle, steer clear from Category A and B since your efforts are futile because you won’t get inspection approval anyway.

 

With that said, it’s likely that you will spend more on repairs than the assessable value of the car.

 

Even in the unlikely event that the insurer will cover the repair cost, you will still pay a hefty out-of-pocket expense.

What to Do With Write-Off Vehicles?

Meanwhile, if you have a vehicle write-off, you can still salvage your initial investment by contacting a Car Removal company.

By contacting the Car Removal company, you will recoup some of the money you paid to purchase the vehicle and get some cash in your pocket.

For instance, these companies pay between $100 and $9,900 for unwanted cars. In addition, you don’t need to do anything else since they will send a truck to haul or tow your vehicle from your property.

You will receive an offer depending on the vehicle’s condition regardless of the kind of model, make, or age.

Aside from write-offs, they will also accept:

 

• Wrecked vehicles
• Flooded cars
• Cars gutted by fire
• Scrap cars
• Rusted vehicles
• Cars involved in accidents
• Mothballed vehicles
• Cars with missing engines
• Cars classified as unsafe

 

Of course, you will not receive the assessed market value of the vehicle, especially if it’s a write-off or is not roadworthy.

 

Nevertheless, it’s much better to put cash in your pocket rather than always seeing a lump of useless metal on your property. Besides, selling your write-off vehicle to a third-party buyer is difficult due to the WOVI mark on its VIN.

 

Instead, you can contact a Cash for Car company and receive a free quote to help determine how much you will get for your unwanted vehicle.